Dutch prosecutors asked courts to declare the platform bankrupt and install a court-appointed trustee to oversee the process of extracting assets from the company to return to customers, who are missing around €7 million (~$8 million). The request was approved. The country's Fiscal Information and Investigation Service has also opened a criminal investigation into the platform.
Dutch Knaken crypto platform collapses with $8 million in customer funds missing
The Dutch cryptocurrency platform Knaken (not to be confused with the American Kraken platform) abruptly went offline in early June, leaving roughly 30,000 customers unable to access their funds. The company was unable to secure a license under the EU's MiCA regulations, which it said forced them to shut down. Though they claimed to be winding down the company in an orderly fashion, they reportedly stopped paying customer withdrawals, and asked customers to stop filing claims.